New York Casino to Share Revenues

Sat, Dec 12, 2015

The Montreign Resort Casino at Adelaar is scheduled to open in 2017. The company is working with county officials to determine a revenue-sharing formula for local communities. Sullivan County will get 60 percent of money shared by the casino, with towns and villages left to split the rest.

The Montreign Resort Casino at Adelaar likely would share gaming revenues with Sullivan County communities after the casino opens in 2017.

Local officials have been meeting with Montreign casino executives to determine a possible revenue-sharing program for local communities. If an agreement is reached, it would need legislative approval before taking effect, and no potential revenue-sharing formula has been suggested.

Sullivan County currently receives about $37 million in revenues from sales tax, and local officials anticipate a significant windfall after the Montreign casino opens in 2017.

For now, Sullivan County would get 60 percent of revenues shared by the casino, and local cities, towns, and villages would divvy up the rest.

Regulatory officials will need to determine a specific revenue-sharing mechanism for local communities.

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